Leerink Partnrs Has Weak Outlook for Zoetis FY2024 Earnings

Zoetis Inc. (NYSE:ZTS - Free Report) - Research analysts at Leerink Partnrs dropped their FY2024 earnings per share estimates for shares of Zoetis in a report issued on Thursday, January 16th. Leerink Partnrs analyst D. Clark now forecasts that the company will earn $5.94 per share for the year, down from their previous estimate of $5.96. Leerink Partnrs currently has a "Strong-Buy" rating on the stock. The consensus estimate for Zoetis' current full-year earnings is $5.91 per share. Leerink Partnrs also issued estimates for Zoetis' Q4 2024 earnings at $1.42 EPS, Q1 2025 earnings at $1.49 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.56 EPS, FY2025 earnings at $6.44 EPS, FY2026 earnings at $7.14 EPS, FY2027 earnings at $7.77 EPS and FY2028 earnings at $8.43 EPS.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.29 billion. During the same period last year, the business posted $1.36 earnings per share. The firm's revenue was up 11.6% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the stock. Leerink Partners began coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price target for the company. JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Stifel Nicolaus lowered their price target on Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group began coverage on Zoetis in a research note on Monday, December 9th. They set a "neutral" rating and a $196.00 price target on the stock. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $211.89.

Zoetis Stock Performance

ZTS stock traded down $3.36 during trading on Friday, reaching $166.01. The company had a trading volume of 4,656,629 shares, compared to its average volume of 2,868,866. The company has a market cap of $74.90 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. Zoetis has a twelve month low of $144.80 and a twelve month high of $200.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm has a 50-day simple moving average of $171.15 and a 200-day simple moving average of $179.99.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Darwin Wealth Management LLC purchased a new position in shares of Zoetis during the 3rd quarter valued at approximately $31,000. First Personal Financial Services acquired a new stake in Zoetis during the third quarter valued at $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis in the third quarter valued at $33,000. Dunhill Financial LLC raised its position in shares of Zoetis by 80.6% in the third quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after acquiring an additional 75 shares during the period. Finally, Quarry LP boosted its stake in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after acquiring an additional 153 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.20%. This is a positive change from Zoetis's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis's dividend payout ratio (DPR) is 37.59%.

Zoetis Company Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.